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Sample Peer Policy for Ramsey Review <br />2. Community Participation: At the time an application is submitted for GROW Funds the <br />applicant must include a letter from the city in which the development is located stating <br />the current zoning and approval status. If the redevelopment does not comply with the <br />current zoning, housing densities, and/or other land use requirements, the letter must <br />state the city's support for approval of re -zoning or variances and expected timing of <br />those approvals. The Authority will not approve any request for funding where a <br />community indicates that the development is not consistent with the community's plans, <br />policies, or goals. <br />The City shall also demonstrate its commitment to the project through some form of <br />financial contribution including but not limited to waiving/reducing fees, land acquisition, <br />demolition expenses, installation of public improvements, tax increment financing, or <br />other types of expenditures documented by the City. <br />3. Site Control: Applicants must be able to provide, at the time the application is <br />submitted, evidence of single owner site control. Evidence includes: deed of trust, <br />current and executed purchase agreement or sale agreement, current title showing <br />applicant as owner, or option agreement. <br />4. Relocation Plan: If applicable, applicants must show that a relocation plan has been <br />developed to ensure that comparable units within the community are available and the <br />budget is adequate to cover relocation costs. <br />5. Leverage: Applications must be able to demonstrate a minimum of two dollars of other <br />funds public or private to one dollar of GROW Funds (i.e. 2:1 Other funds to GROW <br />Funds <br />6. Funding Request: Requested GROW funding must be in the form of a loan or deferred <br />loan. Grant requests will not be accepted. The minimum funding request under the <br />redevelopment criteria will be $50,000. <br />Section XIII — Applicant / Developer Eligibility Requirements (Redevelopment <br />Proposals) <br />In order to be eligible to receive GROW Funds, all applicants must complete the Developers <br />Qualifications form in Exhibit B. It is expected that Developers have successfully completed at <br />least one redevelopment project prior to receiving GROW Funds. The Authority may apply for <br />GROW funds as a developer or as a partner in a redevelopment project. Developers that have <br />been disbarred from funding from U.S. Department of Housing and Urban Development or the <br />Minnesota Housing Finance Agency will not be eligible for GROW Funds. <br />If the proposed redevelopment project includes affordable housing, recipients of GROW funding <br />must also comply with the following ongoing requirements. <br />1. Monitoring: Initially, applicants claiming points for affordable housing must provide to <br />the Authority a list of actual tenant rents/purchase prices and incomes and certify that <br />the tenant rents/purchase prices and incomes are accurate and in compliance with the <br />rent/purchase price and income requirements established by the GROW Fund. To fulfill <br />this requirement the Authority will accept copies of reports submitted for the Tax Credit <br />Fund, Bond Funds or other approved financing Funds. If funding is not received under <br />9 <br />